Comments on: Get a reverse mortgage on your second home http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/ News and discussion about Reverse Mortgages Sat, 30 Apr 2011 21:05:04 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: admin http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/comment-page-1/#comment-59 admin Mon, 25 Jun 2007 15:39:07 +0000 http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/#comment-59 There are currently three Home Equity Conversion Mortgages (HECMs) available through reverse mortgages. The three HECMs available are the HECM 150, the HECM advantage, and the HECM 100. At the present time, the HECM 100 is the best loan choice for the senior because the Expected Interest Rate is the lowest, resulting in more money available for the borrower. However, the HECM 150 is still available because it offers an annual interest adjustment as opposed to a monthly adjustment. The HECM advantage, similar to the HECM 150, has a ‘floating margin’ and can have a negative impact on equity. The senior’s best option is to go with the HECM 100. There are currently three Home Equity Conversion Mortgages (HECMs) available through reverse mortgages. The three HECMs available are the HECM 150, the HECM advantage, and the HECM 100. At the present time, the HECM 100 is the best loan choice for the senior because the Expected Interest Rate is the lowest, resulting in more money available for the borrower. However, the HECM 150 is still available because it offers an annual interest adjustment as opposed to a monthly adjustment. The HECM advantage, similar to the HECM 150, has a ‘floating margin’ and can have a negative impact on equity. The senior’s best option is to go with the HECM 100.

]]> By: admin http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/comment-page-1/#comment-58 admin Thu, 21 Jun 2007 17:56:25 +0000 http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/#comment-58 A good question. The matter is being researched and we should have an answer for you by Monday. Thanks. A good question. The matter is being researched and we should have an answer for you by Monday. Thanks.

]]> By: Rick Firth http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/comment-page-1/#comment-57 Rick Firth Thu, 21 Jun 2007 14:45:46 +0000 http://reversemortgageloanblog.com/2007/06/20/get-a-reverse-mortgage-on-your-second-home/#comment-57 Who is answering these questions? Are any lenders still offering the HECM 150? Why? It appears that the HECM 100 is much better for the seniors? Do you agree? Thanks, Who is answering these questions?

Are any lenders still offering the HECM 150? Why? It appears that the HECM 100 is much better for the seniors?

Do you agree?

Thanks,

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